BUSINESS
06/18/2014 01:55 EDT | Updated 06/18/2014 03:59 EDT

Chip Wilson's Net Worth Down By Half In Past Year

CP

Lululemon founder Chip Wilson’s brief gig appearing on lists of Canada’s richest people came to an end this year, and that has everything to do with Lululemon’s floundering stock price.

Forbes listed Wilson’s net worth at $1.8 billion U.S. as of Wednesday afternoon, and while that sounds impressive, it’s less than half of what Wilson had a little more than a year ago.

Wilson, who resigned from Lululemon’s board last year after making some controversial comments about women’s bodies, and who promptly got himself into a verbal war with that same board, owns some 40.2 million shares of Lululemon.

When Lululemon shares hit a record high of $82.28 U.S. in June, 2013, that would have been worth about $3.31 billion. At Wednesday’s prices, those shares are worth about $1.61 billion — a decline of $1.71 billion.

That’s a lot to lose in a year, but when you own this much wealth, one day’s trading can make a stunning difference. Wilson lost more than $280 million in one day last week, when Lululemon shares dropped 16 per cent after a lacklustre earnings report.

With the stock price bouncing part of the way back, Wilson has recouped some $100 million of the money he lost last week.

Easy come, easy go.

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